Fuel Management

Dec. 10 Report: Average Gasoline Price Lowest Since Feb. 2004

December 12, 2008
• by Staff

WASHINGTON, D.C. --- The national average price of regular gasoline dropped 11.2 cents to $1.699 per gallon, $1.301 below the price a year ago and the lowest price since Feb. 23, 2004, according to the Energy Information Administration's weekly report issued Dec. 10.

The price was $2.415 below the all-time high set on July 7 of this year. The average price on the East Coast slipped 10.3 cents to $1.757 per gallon. At $1.602 per gallon, the price in the Midwest remained the lowest of any region.

The average price on the Gulf Coast declined 9.3 cents to $1.639 per gallon -- the smallest drop of any region. In the Rocky Mountains, the price fell 11.5 cents to $1.623 per gallon.

The price on the West Coast plunged 14.3 cents -- the most of any region -- to hit $1.829 per gallon. In California, the price tumbled 15 cents to $1.805 per gallon, the lowest there since February 2004.

Fuel Management

The national average price of regular unleaded has remained flat at $2.86 per gallon for the week ending Aug. 13 in which consumer demand fell and gasoline inventories increased for the first time in six weeks, according to AAA.

The multiple-year agreement specifies that WEX will provide Marathon Petroleum Corp. with sales and marketing resources to further drive Marathon’s retail growth. It follows an initial five-year deal between the companies.

The national average price of regular unleaded has reached $2.87 per gallon, which is the most expensive gasoline price since 2014. The price is 1 cent more than a week ago, the same price as a month ago, and 52 cents more than a year ago.

WEX Inc. and convenience store chain Kum & Go have extended their branded commercial fuel card program for WEX-issued private label and universal fleet cards for use at its locations, the companies announced.

The national price of regular unleaded crept higher to $2.87 per gallon, a one-cent increase that may lead to even higher prices in the weeks to come as summer gasoline demand remains strong, according to AAA.